RNS Announcements

Lionsgold Limited - Right to Expedite Exercise of Placing Warrants

Lionsgold Limited

("Lionsgold", "LION" or the "Company")

Right of Company to Expedite Exercise of Placing Warrants

Lionsgold (LON: LION), the AIM quoted company focused on the exploration, production and retail application of physical gold, including the development of the Goldbloc digital currency, announces that the milestone for the Company to expedite the expiry date of the warrants issued under the placing announced on 30 November and 1 December 2017 ("Placing Warrants") has occurred. As a result Lionsgold may trigger the early exercise of all Placing Warrants that would otherwise be due to expire on 31 December 2018.

Under the terms of the Placing Warrants, the expiry date is 31 December 2018, except in the event that LION's volume weighted average share price over 5 trading days ("5-day vwap") exceeds 3.6 pence per share. If exceeded, the Company, at its absolute discretion, may give notice to holders of Placing Warrants that they have one week to exercise their Placing Warrants, with two futher weeks to make payment, or forfeit their Placing Warrants.

From market open on 14 December 2017 to market close on 20 December 2017, 241,072,254 LION shares traded at an average price of 5.4492 pence per share. This enables the Company to expedite the exercise period on all Placing Warrants, including the warrants attaching to the Directors' and PDMR's subscriptions announced on 20 December 2017.

For the avoidance of doubt, Lionsgold is not at this stage triggering the early exercise of the Placing Warrants.

Lionsgold Chief Executive Officer, Cameron Parry, commented: "In recent days Lionsgold has received the proceeds of the first unconditional tranche of the placing, being £220,000, and an additional £811,785 through the exercise of warrants and a former employee exercising management options.

"Subject to the relevant resolutions being passed at the AGM on 28 December 2017, the second tranche of the placing monies will be received which, including £52,000 from management partipation, totals £582,000. At that point, Lionsgold will have received over £1.6 million during December. The Company will also be in a position to trigger the early exercise of Placing Warrants representing a potential £1.1 million in additional cash, but Lionsgold does not intend to trigger early exercise of the Placing Warrants at this time.

"The recent placing and voluntary exercise of warrants to date gives Lionsgold a robust cash position and the Company is now in a position to develop and execute strategies that the Board believe can significantly enhance the value of Lionsgold over the next two quarters."

Enquiries:

Lionsgold Limited

Cameron Parry (Chief Executive Officer)

Tel: +44 (0)20 3778 0578

WH Ireland Limited (Nominated Adviser)

Tim Feather/Ed Allsopp

Tel: +44 (0)113 394 6600

Smaller Company Capital Limited (Joint Broker)

Rupert Williams / Jeremy Woodgate

Tel: +44 (0)20 3651 2911

Beaufort Securities Limited (Joint Broker)

Tel: +44 (0)20 7382 8300

Elliot Hance

Tavistock (Financial PR)

Edward Lee

Tel: +44 (0) 20 7920 3150

About LIONSGOLD Limited (LON: LION)

Lionsgold is a London Stock Exchange AIM market quoted, gold-focused company involved in the exploration, production and retail application of physical gold, with gold assets in India and Finland and a majority owned financial technology company developing the digital gold currency, Goldbloc.

Lionsgold's three core focuses are:

· Strategic partnership with leading India gold exploration and mine development company, Geomysore, in which Lionsgold holds 21.15%;